Slovak Residential Property Prices Dropped in First Quarter

The average price for residential property dropped to 1,264
euros ($1,879) per square meter (10.8 square feet) from 1,270
euros in the fourth quarter, the Bratislava, Slovakia-based
Narodna Banka Slovenska said today on its website. On an annual
basis, prices were down 2.5 percent.

The residential-property market in the eastern eurozone
member is struggling to recover after the 2009 recession as the
unemployment rate, at 13.1 percent in March, remains close to a
six-year high. The average price is 18 percent down from the
peak reached in the second quarter of 2008.

Prices varied from 602 euros a square meter in the Nitra
region of western Slovakia, to 1,694 euros in the capital,
Bratislava.